KPMG is laying off approximately 4 percent of its UK workforce, equating to roughly 200 roles. The latest cuts come just six months after the firm eliminated 600 positions across its UK operations.
The redundancy process entered its final stage on October 1, with affected staff set to be notified by email on October 9. According to a message sent to staff and seen by The Register, the collective consultation process has concluded and the firm's original proposal remains unchanged.
In addition to the standard exit terms, which some staff previously described as insulting, KPMG is understood to be offering a £100 payment in exchange for employees' existing contractual confidentiality and other post-termination obligations. Staff perceive this as a gag order intended to prevent them from appealing or bringing legal claims.
Adding to the discontent is the handling of annual bonuses. While KPMG has not communicated on bonuses for 2026, standard policy makes anyone under notice ineligible. Bonuses are typically paid in January. One insider said the decision to dismiss personnel right before the holidays while withholding earned annual bonuses was widely viewed as arrogant.
KPMG declined to answer specific questions regarding the £100 payment or the bonus situation. A spokesperson reiterated a previous statement, saying the firm is adapting to market evolution by focusing on the right skills to serve clients, and that it will support colleagues throughout the process.
The restructuring reflects broader financial pressures on the Big Four accountancy and consultancy sector. PwC UK is also merging two of its advisory businesses in response to disruption caused by AI.